💰💰💰$2 Billion in Volume Causes $IO AI Token to Explode
Overnight, the IO.net token—which powers the decentralized GPU network—exploded, increasing in value by 28% and saw a whopping $1.84 billion in 24-hour trading activity.
Impressive considering the token's market valuation of little over $400 million, which ranks it as the 169th largest cryptocurrency as of this writing.
The announcement is based on yesterday's Binance listing, which significantly increased the token's market liquidity. Certainly, centralized cryptocurrency exchange Binance is well-known; as of March of this year, it had 49% of the market.
Nevertheless, it is necessary to introduce IO.net. It claims to be a blockchain-based solution to the GPU distribution issue.
In response to the worldwide scarcity of computer power and the abundance of spare computing resources, IO.net pools the idle processing capacity of decentralized data centers, cryptocurrency miners, and personal GPUs.
Machine learning and artificial intelligence, which rely heavily on graphics processing units (GPUs), will have more computational capacity at their disposal as a result.
Last November, the protocol was deployed. Buying services, making transactions, and paying fees are all done using its native $IO .
How Well Does IO's Token Trade?
As soon as the IO ived on Binance, its price exploded vertically, as shown on the trade chart. Even though there are clear indications of increasing demand, it has remained stable around the $4 level since then.
As of this writing, the IO en to $6.50 and was showing consistent green candles by late morning UTC.
Having reached an RSI of 75, it is now somewhat overbought. The asset's strength will return to the healthy 30-70 RSI area when traders sell to take profits, causing this to fall.
